Professor Paul Krugman and Rep. Ron Paul (R-Texas) went head to head on BloombergTV this week. True to his neo-Keynesian form, Prof. Krugman insisted that the US government could and should add further debt to stimulate growth. Rep. Paul responded by asking how much debt would be too much, to which [...]
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Already on the defensive due to a persistent failure to achieve its stated policy aims, the US Fed was subject to much fresh criticism over the past week, including from the BRIC nations, collectively the largest foreign holders of US dollar reserves. While the dollar remains the world’s pre-eminent reserve currency, [...] A “little” inflation will destroy capital, rob you of your savings, disrupt all of your long-term financial planning, create market instability, and leave you unprepared for retirement. You can protect yourself and you must. Price Inflation The Bureau of Labor Statistics released their official Consumer Price Index for February on Friday (up 0.4% MoM; up 2.9% [...] After the near-collapse of the financial system in 2008, a growing number of people have come to realize that our monetary disease is terminal. It is that group to whom I address this paper. I sincerely hope that this group includes leaders in business, finance, and government. I do not believe that my proposal herein [...] This article is a more fleshed out version of the one I wrote on August 18. It was written for our newspaper, the Montecito Journal. I hope you enjoy it. The Fed’s War Against Savers The official policy of this country is to “maintain a strong dollar.” In fact though, nothing could be further from [...] Caterpillar, Inc. came out with an outstanding sales report for the quarter ending January 31, 2011. Sales are through the roof: up 48%. This caps off nine straight rolling three-month periods of growth. Per region sales were: Asia-Pacific: January +38%, December + 47%, November +51%. North America: January 58%+, December +48%, November +53%. [...] By Jeff Harding. *See disclosure at end
I’ve been thinking a lot about gold lately. Especially now that Nouriel Roubini has come out and trashed the noble metal (see Tyler Durden’s article). Anyone who tells you they know what’s going to happen with gold is guessing. Roubini is guessing. Roubini also makes some fundamental errors in [...] By Jeff Harding. In a Bloomberg interview today, Steven Roach, Chairman of Morgan Stanley Asia said: China needs to boost investment in social security, private pensions, and insurance for unemployment and medical care, Roach said, to prompt its consumers to save less and buy more goods from overseas.
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